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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 23, 1998
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TCF Financial Corporation
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-16431 41-1591444
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Commission File Number (IRS Employer Identification No.)
801 Marquette Avenue, Mail Code 100-01-A, Minneapolis, Minnesota 55402
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(Address of principal executive offices)
(612) 661-6500
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Registrant's Telephone Number
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Item 5. OTHER EVENTS
On June 23, 1998, TCF Financial Corporation (the "Company") announced that
its board of directors has authorized another program for the repurchase of
up to five percent of the Company's outstanding shares through open market or
privately negotiated transactions. This program is in addition to the
existing program for repurchasing shares announced in January 1998. The
repurchased shares will become treasury shares. Attached hereto as Exhibit
99.1 and incorporated herein by reference is the Company's press release
dated June 23, 1998.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press Release dated June 23, 1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
Dated: June 25, 1998
TCF FINANCIAL CORPORATION
By /s/Ronald J. Palmer
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Ronald J. Palmer
Its Treasurer and Chief Financial Officer
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Cynthia W. Lee
(612) 475-7936
FOR IMMEDIATE RELEASE
TCF ANNOUNCES STOCK REPURCHASE PROGRAM
MINNEAPOLIS, June 23, 1998 - TCF Financial Corporation (TCF) (NYSE:TCB)
announced today that its board of directors has authorized another repurchase
of up to 5 percent of TCF common stock, or approximately 4.5 million shares.
The shares will be repurchased from time to time, depending upon market
conditions, through open market or privately negotiated transactions. The
repurchased shares will become treasury shares.
TCF has 1.4 million shares remaining unpurchased in its current 5
percent stock repurchase program, authorized by the board of directors in
January 1998, which the company expects to repurchase before initiating the
new program. TCF has approximately 89.7 million common shares outstanding.
TCF is a $9.7 billion national bank holding company based in
Minneapolis. TCF's banks are based in Minnesota, Illinois, Wisconsin, and
Colorado as TCF National Bank, and in Michigan as Great Lakes National Bank.
Other TCF affiliates include business-equipment leasing, consumer finance,
mortgage banking, title insurance, annuity and mutual fund sales companies.
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